Investing.com – Initial coin offerings have become a useful alternative for entrepreneurs seeking to raise funds, but they also have unlimited potential for fraud, according to a report by France’s stock market regulator.
About €350 million has been raised through ICOs in France thus far, according to the report.
The regulator, known as the AMF, says ICOs use abusive, fraudulent practices to take advantage of unsuspecting investors interested in crypto assets.
The AMF says tighter regulation is needed to protect investors and maintain market integrity, while also ensuring innovation is not hampered.
ICO activity has boomed in recent years, attracting greater regulatory scrutiny.
A recent report by PricewaterhouseCoopers and Crypto Valley said 557 ICOs had raised $13.7 billion through May of this year–twice as much as all of 2017.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here